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Hello from General Protocols

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Written by   36
1 month ago

Hello from General Protocols. We are a new company using Bitcoin Cash to create products and utility for the world, and we want to give you an early look at what we are doing. In the near future we will release our first product, AnyHedge, as it launches in cooperation with Cryptophyl's new non-custodial exchange, Detoken.

Bitcoin Cash native and trustless stability solution

We believe that Bitcoin Cash and all crypto has a volatility problem that holds back adoption. AnyHedge is a trustless (except for a price oracle), synthetic derivative that we created to mitigate the stability problem using the incentives of speculation. The whitepaper describes it in detail, but in summary:

An AnyHedge contract involves at the minimum three parties: Hedge, Short, and Oracle. Only Hedge and Short have coins [BCH] involved while Oracle does not need to be aware of the contract at all. It operates much like a subset of traditional futures and forward contracts. [...] In essence, Hedge gains a peg on the external asset for their coins, while Short amplifies the risk and reward for theirs.

To the best of our knowledge, it is the first real decentralized finance protocol on any branch of Bitcoin. In addition to mitigating volatility, growth of AnyHedge will necessarily mean the growth of real economic activity on Bitcoin Cash. It provides a way for holders to make use of their BCH without leaving the network, and draws new value into the network to take counterparty positions. AnyHedge contracts have been executed on-chain hundreds of times already as a part of testing and demonstrations.

Maximum utility

AnyHedge will be released as an open source smart contract, libraries (not released yet) and whitepaper that exchanges, OTC desks and anyone else can use to execute the derivative. General Protocols earns revenue by providing an easy API to all of those parties, especially exchanges and OTC desks. The API handles all the complexity around creating, monitoring and upgrading contracts with no need for new infrastructure or knowledge. A small fee is trustlessly included in every contract made with the API. Tools for everyone to play with will be released soon™️, probably after everything is released with Cryptophyl and Detoken.

Who we are

  • John Nieri (emergent_reasons), President

  • Jonathan Silverblood, Senior Developer

  • Eric Teng, Operations

  • imaginary_username, Ongoing collaboration including original idea for the derivative

Get involved

We have bootstrapped to this point and are seeking:

  • Aligned investors to help us reach profitability.

  • Exchange and OTC partners to create value for their users and grow revenue together.

  • Open source collaborators to continuously review and refine AnyHedge protocols.

Ultimately, we will reinvest in R&D to develop a full portfolio of protocols and profitable products using the unique benefits of Bitcoin Cash.

Talk with us privately

  • Telegram @emergentreasons

  • Keybase @emergent_reasons

  • Email john.nieri [at] generalprotocols.com

Join the discussion

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Avatar for GeneralProtocols
Written by   36
1 month ago
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Comments

It is very nice to read this article and get some info about your company that using Bitcoin Cash.

$ 0.00
1 month ago

Exciting stuff! Kudos! Looking forward to seeing how we can build with Anyhedge to serve mainstream consumers who are adopting Bitcoin Cash.

$ 0.00
1 month ago

Sweeeeeeeeet

$ 0.00
1 month ago

Thank you for building this!

$ 0.10
1 month ago

Thanks for your support Marcel.

$ 0.00
1 month ago

nice! really ❤️ to see great teams BUIDLing great shit 🤩

kinda lost me with "synthetic derivative"; hopefully it's NOT like those "financial instruments" that brought down the housing market in '08 .. but I'll check out the links and the whitepaper; will look to support in any way that I can..

best of luck!! 👏🥳👍

$ 0.20
1 month ago

Thanks! Those were a travesty of magical thinking, greed and manipulation - humans will always be vulnerable to that. On the positive side, we describe in the whitepaper that we expect to have a base layer of speculative liquidity and on top of that everyone can build use cases that are stabilized with minimum systemic risk. That's why we choose to frame our participants as "Hedge and Short" instead of "Long and Short".

$ 0.00
1 month ago

read the whitepaper.. 👍

this seems very similar to MakerDAO, right down to the CDPs (albeit w/out a governance token) .. as you know, I'm a HUGE FAN of Dai, so I just want to be sure I'm understanding this correctly..

one glaring concern:

The maker constructs and funds the entire contract which has an additional covenant clause allowing the maker to sell one side of the contract to another party.

so, it's possible to "trade" these contracts (as you would a stablecoin), but my question is, "could these contracts be 'adopted' into an SLP token?"; which would imo make it highly liquid on BCH DEXs; and dramatically more value in the case of everyday commerce

regardless, I ❤️ it .. all of it!! 👏🥳

atm, 100% focused on Nito.cash, in prep for the upcoming Flipstarter campaigns; then my focus will likely shift to BCH stablecoin development (ideally, ahead of the BTC halvening)

we can chat more about this on Slack...

$ 0.10
1 month ago

Yes all of that is possible. In fact, you don't even need SLP to trade them. You can do it in the contract itself. SLP may make it easier to use existing infrastructure - I'm just not sure we can stuff all of the logic into the currently small BCH script box. If we can get some traction and sustainability, then there is a huge number of things possible. Speculation is only the base layer.

$ 0.25
1 month ago

Hmm.. I would expect it to be hedge and long

$ 0.00
1 month ago

You can read about it in whitepaper section "5. Regarding price orientation". It's hard because we are all used to fiat being the unit of account. Here, BCH is the unit of account. So you aren't long BCH... you are short USD 💪

$ 0.20
1 month ago
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